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WorksheetsDebentures 2
Total questions: 9
Worksheet time: 9mins
Discount on issue of debentures is restricted to
10%
20%
25%
None of these
Electronics ltd. issued 10,000, 6% debentures of Rs. 100 each at a premium of Rs. 10. It will credit 6% debentures account by
Rs. 11,00,000
Rs. 10,00,000
Rs. 9,00,000
Rs. 8,00,000
HP ltd. issued 5000, 8% debentures of Rs. 100 each at Rs. 95. It will credit 8% debentures account by
Rs. 5,00,000
Rs. 4,75,000
Either (a) or (b) as it decides
Rs. 5,25,000
Which of the following is correct with respect to debentures
They can be issued on credit
They can be issued for consideration other than cash
They cannot be issued as collateral security
They can be issued partly on credit and partly in cash
Apple computers ltd. issued 10,000, 7% debentures of Rs. 100 each at a discount of Rs. 6 on 1st October 2019. Interest for the year ended 31st March, 2020 will be
Rs. 65,800
Rs. 32,900
Rs. 70,000
Rs. 35,000
William pens ltd. issued 10,000, 7% debentures of Rs. 100 each at a discount of Rs. 4. It has a balance in securities premium reserve of Rs. 25,000. It will write off discount on issue of debentures
Rs. 40,000 from securities premium reserve
Rs. 40,000 from statement of profit and loss
Rs. 25,000 from securities premium reserve and Rs. 15,000 from statement of profit and loss (finance cost)
Rs. 15,000 from securities premium reserve and Rs. 25,000 from statement of profit and loss (finance cost)
Luxor pens ltd. issued 10,000, 7% debentures of Rs. 100 each at a discount of Rs. 4 redeemable at a premium of Rs. 6. It will write of loss on issue of debentures
From securities premium reserve
From statement of profit and loss
From general reserve
None of these
Which of the following statement is correct
A debentureholder is an owner of the company
A debentureholder can get his money back only on the liquidation of the company
A debenture issued at a discount can be redeemed at a premium
A debentureholders receives interest only in the event of profits
In the balance sheet of a company, interest accrued and due on debentures is shown under the main head
Share capital
Reserves and surplus
Current liabilities
Non current liabilities
